bullish points visible on Coal India Ltd (NSE: COALINDIA) 4H chart:
1. Breakout and Retest
Price broke out above a consolidation zone (marked as 1. breakout).
It later came back and successfully retested the breakout level (point 2), confirming it as support.
2. Positive Divergence
The RSI shows higher lows while price made equal/lower lows (point 3).
This indicates bullish divergence → momentum is shifting upward despite price weakness.
3. Moving Average Signals
Inside bar above 18 EMA (point 4): This shows strength and trend continuation potential.
Price action is currently defending the 200 EMA (point 6), meaning the long-term trend support is holding.
4. Bullish Candlestick Patterns
Bullish engulfing bar (point 5): A strong reversal candle pattern after consolidation.
Inside bar breakout above EMA: Suggests accumulation before an upward push.
5. Flag Pattern
After the bullish engulfing bar, price formed a flag pattern near the 200 EMA (point 6).
Flags are typically continuation patterns, suggesting further upside.
6. Volume Support
On the retest and engulfing bar, volumes are elevated, confirming genuine buying interest.
✅ Summary:
Breakout + successful retests
Positive divergence
Bullish engulfing + inside bar above EMA
Price holding above 200 EMA with a flag pattern
All these are strong bullish confluences pointing to potential continuation toward the marked target zone (~₹429).
1. Breakout and Retest
Price broke out above a consolidation zone (marked as 1. breakout).
It later came back and successfully retested the breakout level (point 2), confirming it as support.
2. Positive Divergence
The RSI shows higher lows while price made equal/lower lows (point 3).
This indicates bullish divergence → momentum is shifting upward despite price weakness.
3. Moving Average Signals
Inside bar above 18 EMA (point 4): This shows strength and trend continuation potential.
Price action is currently defending the 200 EMA (point 6), meaning the long-term trend support is holding.
4. Bullish Candlestick Patterns
Bullish engulfing bar (point 5): A strong reversal candle pattern after consolidation.
Inside bar breakout above EMA: Suggests accumulation before an upward push.
5. Flag Pattern
After the bullish engulfing bar, price formed a flag pattern near the 200 EMA (point 6).
Flags are typically continuation patterns, suggesting further upside.
6. Volume Support
On the retest and engulfing bar, volumes are elevated, confirming genuine buying interest.
✅ Summary:
Breakout + successful retests
Positive divergence
Bullish engulfing + inside bar above EMA
Price holding above 200 EMA with a flag pattern
All these are strong bullish confluences pointing to potential continuation toward the marked target zone (~₹429).
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.